Commonwealth Secretariat Leases 27248 SF At 685 3rd Ave From TIAA-CREF For $60/SF
685 3rd Ave, New York, NY, 10017
$60
$60/SF
Building Size
27,248 SF
Asset Type
Office
Closing
Jun 17, 2016
About this deal
AI
The property involved in this transaction is located at 685 3rd Ave, New York, NY, 10017. It spans a total of 27,248 square feet and operates within the New York market. The rental rate is set at $60 per square foot.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 685 3rd Ave, New York, NY, 10017
- Market: New York
- Tenant: Commonwealth Secretariat
- Landlord: TIAA-CREF
- Tenant's Representative: Daniel "Dan" Organ-Cushman & Wakefield
- Brokers: Matthew Astrachan-JLL, Michael Burgio-Cushman & Wakefield
The transaction involved key individuals such as Daniel "Dan" Organ from Cushman & Wakefield representing the tenant, while brokers Matthew Astrachan from JLL and Michael Burgio from Cushman & Wakefield facilitated the deal. The landlord for this lease is TIAA-CREF.
Players
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Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93